Tag: Exchange

Biden Administration ‘Crypto Tsar’ Says DOJ will Target Digital Asset Exchange Platforms – Regulation Bitcoin News

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According to Eun Young Choi, the head of the crypto unit at the U.S. Department of Justice (DOJ), the United States has resolved to target digital platforms because they are making it easy for criminals and money launderers. Choi said the DOJ hopes taking action against entities such as crypto exchanges is “going to have a multiplier effect.” DOJ to Target Mixers and Tumblers The U.S. Department of Justice (DOJ) will target digital asset exchange platforms and entities providing mixers and tumblers which are used to obfuscate the trail of…

Decentralized Exchange Volume on Binance’s BNB Chain Hits Highest in a Year

There are a few reasons behind the yearly high. Lower fees on the BNB Chain might mean users are more likely to trade there, said Katie Talati, head of research at Arca, trying to explain the surge in volume. Another reason, she suggested, could be due to Binance’s popularity in the world of centralized exchanges. “It makes sense that users get routed to BNB Chain after using Binance,” she said. Source

Bitcoin-Based Decentralized Exchange Token Surges 158% in Just Seven Days, Defying Crypto Downtrend

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A Bitcoin (BTC)-based decentralized exchange platform (DEX) is skyrocketing despite turbulence within the crypto markets. New data reveals that AlexGo (ALEX), a decentralized trading platform for BRC-20 tokens that is set to launch next week, surged from its seven-day low of $0.0595 on May 6th to a new all-time high of $0.154 just six days later, a 158% increase. The 287th-ranked crypto asset by volume has since retraced and is trading for $0.146 at time of writing. AlexGo, which made its market debut last September, recently reached out to other crypto…

‘We screwed up’ — Coinbase CLO responds to outrage after exchange associated Pepe with hate groups

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Coinbase chief legal officer Paul Grewal has issued an apology after the crypto exchange sent out an email labeling the Pepe the Frog meme as a “hate symbol” — a move that prompted many users to call for a boycott. In a May 11 tweet, Grewal said Coinbase had “screwed up” in sharing information about the Pepe meme, which included that it had been co-opted by many alt-right groups as a hate symbol. According to the Coinbase CLO, the exchange was attempting “to provide a fact-based picture of a trending…

Milady memecoin surges 5,250% after Musk tweet, exchange listings

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On May 11, Milady (LADYS), the self-organized memecoin of the namesake anime avatar nonfungible tokens (NFT) collection, surged by over 5,250% within 24 hours to trade at a $0.0000001528 at the time of publication. The day prior, American business magnate Elon Musk tweeted a meme using the imagery of a Milady NFT, sending the average Ether (ETH) sale price of the collection soaring.  According to token developers, LADYS has “no association” with Milady creator Charlotte Fang or Milady Maker. The token “is simply paying homage to an NFT collection we…

Coinbase calls PEPE a ‘hate symbol,’ prompting calls to boycott the exchange

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An email sent out to Coinbase customers describing memecoin Pepe (PEPE) as a “hate symbol” co-opted by alt-right groups has drawn significant ire from the memecoin community.  Prominent crypto influencer Borovik.eth shared a screenshot of the email newsletter from May 10 to his 96,000 followers, which cites a 2016 decision from the Anti-Defamation League to place the frog-themed character in its database of online hate symbols. Why is @coinbase sending out emails telling people that $pepe is an alt-right hate symbol?? pic.twitter.com/UNzClQlwwv — borovik.eth (@3orovik) May 11, 2023 Fans and…

Crypto Exchange Bittrex Files for Bankruptcy Following SEC Enforcement Action After Nearly a Decade in Business

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Seattle-based crypto exchange Bittrex has filed for bankruptcy as it faces ongoing regulatory challenges in the United States. Richie Lai, the exchange’s co-founder and chief executive, acknowledged the filing in a tweet on Monday. “Yes, we filed chap 11. Yes, we still have 100% of all customer funds. Yes, there will be a claims process through the bankruptcy courts. This was the cleanest way to bury the baby — RIP Bittrex Exchange.” Bittrex notes on its website that the bankruptcy announcement does not impact the exchange’s foreign affiliate, Bittrex Global,…